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Jan 18, 2013
01/13
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then when the economy turns and it always turns, when that economy turns you have nothing in the pipe. and, people run you over out of the gate. >> reporter: but, not all innovation happens in multibillion dollar labs. here in manhattan's fashion district, www.ilikewhatyourwearing.com is trying to ignite a fashion revolution. started by olivia gossett, the website sells cutting edge clothing by rising designers. but, it's also an online magazine-- one that uses cute articles to sell products and foster those independent designers. >> i think we're opening up gateways in the industry for other people that otherwise wouldn't have a chance to make a name for themselves. you know you see the same dress on four different websites for four different prices from the same label and you're left kind of wondering isn't their more out there. >> reporter: ilwyw.com may not help cure for cancer, but it might create jobs. and, it's part of a push by new york city's borough president scott stringer to make the big apple a destination for start- ups. what he calls the innovation economy. >> how we ta
then when the economy turns and it always turns, when that economy turns you have nothing in the pipe. and, people run you over out of the gate. >> reporter: but, not all innovation happens in multibillion dollar labs. here in manhattan's fashion district, www.ilikewhatyourwearing.com is trying to ignite a fashion revolution. started by olivia gossett, the website sells cutting edge clothing by rising designers. but, it's also an online magazine-- one that uses cute articles to sell...
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Jan 18, 2013
01/13
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economy has finally turned a corner? >> susie: and messy earnings news from two giant banks: a big earnings miss from citigroup, and a big earnings drop at bank of america. investors dump the stocks. >> tom: that and more tonight on "n.b.r."! >> susie: hundreds of flights were canceled today and airlines rushed to make back-up plans after regulators around the world grounded boeing's 787 dreamliner. those actions came after the federal aviation association ordered the plane out of the air after two incidents where lithium ion batteries overheated. boeing says it is confident the 787 is safe and says it stands behind the plane's overall integrity. this is only the second time in more than 30 years that regulators have grounded a plane. darren gersh reports. >> reporter: boeing has spent more than $30 billion developing the 787 dreamliner. one reason for the high cost is boeing's decision to upgrade the hydraulics and other mechanical systems with next-generation technology that runs on electricity. >> you've got generator
economy has finally turned a corner? >> susie: and messy earnings news from two giant banks: a big earnings miss from citigroup, and a big earnings drop at bank of america. investors dump the stocks. >> tom: that and more tonight on "n.b.r."! >> susie: hundreds of flights were canceled today and airlines rushed to make back-up plans after regulators around the world grounded boeing's 787 dreamliner. those actions came after the federal aviation association ordered...
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Jan 18, 2013
01/13
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economy still stuck in neutral? suzanne pratt reports. >> reporter: ann lenane has sold real estate in up and down markets, what she says about today's market might surprise you. >> the real estate market is hot. it is on fire. >> reporter: her read on real estate market makes sense given that home sales and new construction are recovering from their recent steep declines. and, some economists believe housing will replace manufacturing as a key growth driver this year. beyond the housing, the economy has recently been showing other signs of strength. retail sales and manufacturing activity were surprisingly strong in december. today, we learned that jobless claims are at a five-year low. on top of that the stock market, often considered a leading indicator of the economy hit a five-year high today. we're not talking about any old high, it's the highest level for the s&p 500 since before the financial crisis. still, not all economists believe there's reason to celebrate, just yet. >> we've been looking for moderate g
economy still stuck in neutral? suzanne pratt reports. >> reporter: ann lenane has sold real estate in up and down markets, what she says about today's market might surprise you. >> the real estate market is hot. it is on fire. >> reporter: her read on real estate market makes sense given that home sales and new construction are recovering from their recent steep declines. and, some economists believe housing will replace manufacturing as a key growth driver this year. beyond...
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Jan 22, 2013
01/13
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economy." >> how we take advantage of it will define the economic success of this city at a very interesting time in our history, after 9/11, post hurricane, dealing with infrastructure challenges and budget deficits. and we need to expand our tax base, and we need to take advantage of what's happening right now. >> reporter: exactly how we take advantage is ripe for debate, but most agree better education and visas for the scientists we train in the u.s. is a good start. and remember what i.b.m.'s myerson said about continuity-- it's just as important to a >> the moment you believe there is no danger of losing your edge is when it disappears on you. >> reporter: suzanne pratt, "n.b.r.," at the watson research center. >> susie: the u.s. needs to make structural changes to restore its competitiveness. that's the main conclusion of an extensive study on american competitiveness by harvard business school professor michael porter. when i talked with him, we began our conversation by discussing wh
economy." >> how we take advantage of it will define the economic success of this city at a very interesting time in our history, after 9/11, post hurricane, dealing with infrastructure challenges and budget deficits. and we need to expand our tax base, and we need to take advantage of what's happening right now. >> reporter: exactly how we take advantage is ripe for debate, but most agree better education and visas for the scientists we train in the u.s. is a good start. and...
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Jan 22, 2013
01/13
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chemical firm tempered expectations about its business due to the slow global economy. friday, g.e. said the outlook for developed markets remains uncertain even though the conglomerate got a nice earnings boost thanks to its emerging markets business. still, some market pros says most u.s. multinationals are fit enough to stay in the money. >> you know, our companies here in the u.s are pretty lean and mean. they've learned how to make money in a slow-growth environment. i don't think that's going to change, but probably earnings growth this year will probably be about 5% or even a little bit less than that. so, below the long-term average, certainly nothing to write home about. >> reporter: nothing to write home about, maybe, but enough to keep the s&p 500 in positive territory. >> i think, at the end of the year, the market is going to be higher than where it is now. our target for year-end 2013 is 1525 to 1575. so, you throw in a couple of percents for dividends, and, you know, that would be about a 10% year. so, we're expecting another good year. >> reporter: before we worry ab
chemical firm tempered expectations about its business due to the slow global economy. friday, g.e. said the outlook for developed markets remains uncertain even though the conglomerate got a nice earnings boost thanks to its emerging markets business. still, some market pros says most u.s. multinationals are fit enough to stay in the money. >> you know, our companies here in the u.s are pretty lean and mean. they've learned how to make money in a slow-growth environment. i don't think...
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Jan 15, 2013
01/13
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. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> reporter: republicans called the president hypocritical for saying he will not negotiate over the debt limit while blasting republicans for refusing to negotiate. and they fired back that the debate over the debt ceiling was the perfect time to consider legislation to cut spending. at the same time, only a handful of republicans have actually said they'd let the united states default on its bills. >> the president claims this, but republicans have always raised the debt ceiling. we've never seen the debt limit fail to be raised. all they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we don't want to give the president a blank check. we would like to fix the substantive problem which is the level and the growth in the debt. >> reporter: markets are almost trea
. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> reporter: republicans called the president hypocritical for saying he will not negotiate over the debt limit while blasting republicans for refusing to negotiate. and they fired back that the debate over the debt ceiling was the perfect...
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Jan 23, 2013
01/13
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forecast the global economy to growth 3.5%. at rom its earlier prediction back in october, thanks in part to the recession continuing in europe. oliveer blargchard joins us. are the policies addressing the recession not working or does it just need for time. >> they are working. the adjustment is very tough. i just heard the numbers you gave. the negative numbers -- these countries have very tough adjustments to make. we know they have to become more competitive. they have a large fiscal deficit they have to eliminate. this is tough, and so these countries have neglecnegativegoals this year. the core countries have the same problems, but not to the same extent. nothing great, between 0% and 1%, but one has to make the difference, too. things are working, and working slowly. >> tom: you talk about the peripheral of europe, greece, spain, in particular, and italy. you warn that, quote,"the risks of prolonged stagnation in the euro area as a whole will rise if the momentum for reform is not maintained." so the core still remains a
forecast the global economy to growth 3.5%. at rom its earlier prediction back in october, thanks in part to the recession continuing in europe. oliveer blargchard joins us. are the policies addressing the recession not working or does it just need for time. >> they are working. the adjustment is very tough. i just heard the numbers you gave. the negative numbers -- these countries have very tough adjustments to make. we know they have to become more competitive. they have a large fiscal...
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Jan 15, 2013
01/13
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a lot of the conditions in the economy are slow. it spending is to the really that great. so i don't know if the estimates are that achievable. i also think that yeah, better risk/reward in other sectors in the market. we're trying to advise our clients how to outperform the s&p. i think there is better opportunity. within tech there are some things we like where recommending suck stocks for example. i think that is one economically sensitive area that the stocks haven't participated that much in the rally. >> susie: let's talk about the areas that have been telling your clients, morgan stanley clients which direction to go. you have three big themes for your clients. buy stocks with from american companies with exposure to china, positive on china. buy dividend paying stocks and you like very large stocks, what you call megastocks. why are these the themes for you? >> well, look, for china i think we identified late last fall that the u.s. companies with china exposure had really lagged the broader market and had gotten quite cheap. and the china economy started to stabil
a lot of the conditions in the economy are slow. it spending is to the really that great. so i don't know if the estimates are that achievable. i also think that yeah, better risk/reward in other sectors in the market. we're trying to advise our clients how to outperform the s&p. i think there is better opportunity. within tech there are some things we like where recommending suck stocks for example. i think that is one economically sensitive area that the stocks haven't participated that...
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Jan 16, 2013
01/13
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economy isn't picture perfect, but it is positive. today's beige book report showed signs of solid overall economic growth. each of the fed's 12 districts showed either "moderate" or "modest" growth, steady or expanding real estate activity, and some growth in consumer spending from december through the first week of january. but the fed noted job market conditions didn't change much. one reason companies are cautious about hiring, is they are worried about fiscal uncertainty in the u.s. and that uncertainty is growing as some republicans in washington argue for a narrow definition of what it means for the government to default. skipping payments on government bonds would be a default they say. but skipping payments for other government services wouldn't be. this debate could have real consequences, as darren gersh explains. >> reporter: next month, the u.s. government will owe $38 billion in interest payments on the debt it's sold to investors here and overseas. but the u.s. government will take in about $210 billion in tax revenues
economy isn't picture perfect, but it is positive. today's beige book report showed signs of solid overall economic growth. each of the fed's 12 districts showed either "moderate" or "modest" growth, steady or expanding real estate activity, and some growth in consumer spending from december through the first week of january. but the fed noted job market conditions didn't change much. one reason companies are cautious about hiring, is they are worried about fiscal...
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Jan 16, 2013
01/13
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on because financials are a significant sector in the overall market, and they have the pulse on the economy, in terms of housing, mortgages, hiring, and we watch that trading activity in the last quarter. >> susie: and we'll have all of those numbers tomorrow. that's "nightly business report" for tonight, tuesday, january 15. have a great evening, everyone. see you tomorrow, tom. have a great evening, everyone. and you, too, tom. >> tom: good night, susie. we'll see you online at www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org
on because financials are a significant sector in the overall market, and they have the pulse on the economy, in terms of housing, mortgages, hiring, and we watch that trading activity in the last quarter. >> susie: and we'll have all of those numbers tomorrow. that's "nightly business report" for tonight, tuesday, january 15. have a great evening, everyone. see you tomorrow, tom. have a great evening, everyone. and you, too, tom. >> tom: good night, susie. we'll see you...
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Jan 16, 2013
01/13
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on because financials are a significant sector in the overall market, and they have the pulse on the economy, in terms of housing, mortgages, hiring, and we watch that trading activity in the last quarter. >> susie: and we'll have all of those numbers tomorrow. that's "nightly business report" for tonight, tuesday, january 15. have a great evening, everyone. see you tomorrow, tom. have a great evening, everyone. and you, too, tom. >> tom: good night, susie. we'll see you online at www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >>> tonight on "spark" -- we meet artists who fuse genres, cultures and modes of expression in ways that are surprising and provocative. in our first story, we'll check out the growing phenomenon of muslim hip-hop. >> home of the brave, land of the free, now this i still got to see. it's not what mainstream muslims really talk about. >> they're realizing that their kids are being influenced by rap music more than anything else, including them. >>> then -- we'll visit the west marin studio o
on because financials are a significant sector in the overall market, and they have the pulse on the economy, in terms of housing, mortgages, hiring, and we watch that trading activity in the last quarter. >> susie: and we'll have all of those numbers tomorrow. that's "nightly business report" for tonight, tuesday, january 15. have a great evening, everyone. see you tomorrow, tom. have a great evening, everyone. and you, too, tom. >> tom: good night, susie. we'll see you...